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Report Date : |
14.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
MOA ENGINEERING PRIVATE LIMITED |
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Registered
Office : |
No. 184 / 2B, Sirumangadu Village, Sunguvarchatram Post, Sriperumbudur-
Taluk, Kanchipuram – 602106, Tamilnadu |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
26.10.2007 |
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Com. Reg. No.: |
18-065189 |
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Capital Investment
/ Paid-up Capital : |
Rs. 0.100 Million |
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CIN No.: [Company Identification
No.] |
U31909TN2007PTC065189 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of executing electrical contracts
on turnkey basis as well as job work basis. |
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No. of Employees
: |
Not divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 37000 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The management of the company has failed to file its financials with
the government department since 2012. As per of 2011, the company was found normal for business dealings. However, trade relations are fair. Business is active. Payments terms
are unknown. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DENIED BY
|
Name : |
Mr. Ravi |
|
Designation : |
Finance Manager |
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Contact No.: |
91-9941911086 |
|
Date : |
13.06.2013 |
LOCATIONS
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Registered Office : |
No. 184 / 2B, Sirumangadu Village, Sunguvarchatram Post,
Sriperumbudur- Taluk, Kanchipuram – 602106, Tamilnadu, India |
|
Tel. No.: |
91-44-27107150 |
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Mobile No.: |
91-9941911086 (Mr. Ravi) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
DIRECTORS
As on 29.09.2011
|
Name : |
Mr. Moon Lee Gab |
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Designation : |
Director |
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Address : |
Prince Residenzia Davinci, A-401,301/29 Nemilli (B) Village, Pennalur
Panchayat, Sriperumbudur Taluk, Kancheepuram – 602105, Tamilnadu, India |
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Date of Birth/Age : |
04.05.1961 |
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Date of Appointment : |
26.10.2007 |
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DIN No.: |
01790798 |
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Other Directorship:
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Name : |
Mr. Myunghee Lee |
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Designation : |
Director |
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Address : |
Prince Residenzia Davinci, A-401,301/29 Nemilli (B) Village, Pennalur
Panchayat, Sriperumbudur Taluk, Kancheepuram – 602105, Tamilnadu, India |
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Date of Birth/Age : |
12.08.1962 |
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Date of Appointment : |
26.10.2007 |
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DIN No.: |
01729483 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Ravi |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS
As on 29.09.2011
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Moon Lee Gab |
5100 |
51.00% |
|
Myunghee Lee |
4900 |
49.00% |
|
Total |
10000 |
100.00% |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of executing electrical contracts
on turnkey basis as well as job work basis. |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
Rs. In Millions
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Amul and Associated Chartered Accountants |
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Address : |
Plot No. 2207, AF Block, 7th Street, 11th Main
Road, Anna Nagar West, Chennai – 600040, Tamilnadu, India |
|
PAN No.: |
AABFA3266B |
CAPITAL STRUCTURE
As on 29.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100 Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
0.100 |
0.100 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
9.160 |
3.603 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
9.260 |
3.703 |
|
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LOAN FUNDS |
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|
|
|
|
1] Secured Loans |
|
0.117 |
0.388 |
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2] Unsecured Loans |
|
0.000 |
0.000 |
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TOTAL BORROWING |
|
0.117 |
0.388 |
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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TOTAL |
|
9.377 |
4.091 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
4.789 |
2.100 |
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Capital work-in-progress |
|
6.316 |
0.000 |
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INVESTMENT |
|
0.000 |
0.000 |
|
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DEFERRED TAX ASSETS |
|
0.172 |
0.012 |
|
|
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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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|
Inventories |
|
14.660 |
17.363 |
|
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Sundry Debtors |
|
27.183 |
7.365 |
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Cash & Bank Balances |
|
32.970 |
21.576 |
|
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Other Current Assets |
|
0.000 |
0.000 |
|
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Loans & Advances |
|
18.645 |
3.597 |
|
Total
Current Assets |
|
93.458 |
49.901 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
40.567 |
23.805 |
|
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Other Current Liabilities |
|
51.266 |
22.886 |
|
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Provisions |
|
3.535 |
1.251 |
|
Total
Current Liabilities |
|
95.368 |
47.942 |
|
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Net Current Assets |
|
(1.910) |
1.959 |
|
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|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.010 |
0.020 |
|
|
|
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|
|
|
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TOTAL |
|
9.377 |
4.091 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
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|
|
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|
Income |
|
274.056 |
124.155 |
|
|
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Other Income |
|
0.568 |
0.142 |
|
|
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TOTAL |
|
274.624 |
124.297 |
|
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|
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|
|
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Less |
EXPENSES |
|
266.156 |
121.002 |
|
|
|
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|
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PROFIT BEFORE
TAX |
|
8.468 |
3.295 |
|
|
|
|
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|
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Less |
TAX |
|
2.911 |
1.157 |
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PROFIT AFTER TAX
|
|
5.557 |
2.138 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
555.70 |
213.79 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
|
0.20 |
1.72 |
|
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|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
3.09 |
2.65 |
|
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|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
8.62 |
6.33 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.91 |
0.89 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
0.01 |
0.10 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
0.98 |
1.04 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
two years |
Yes |
|
12] |
Profitability for last
two years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
--------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
--------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
NOTE: Registered office
of the company has been Shifted from Flat No. 11, Block No. 1, Swathis Tezas,
padmini garden,
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U31909TN2007PTC065189 |
|
Name of the company |
MOA ENGINEERING PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in |
No. 184 / 2B, Sirumangadu Village, Sunguvarchatram Post,
Sriperumbudur- Taluk, Kanchipuram – 602106, Tamilnadu |
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable property Book debts Movable property (not being pledge) Floating charge Others |
|
Particular of charge holder |
ICICI Bank Limited, |
|
Nature of instrument creating charge |
1. Deed of Hypothecation 2. Memorandum of Entry Both relate to one single charge |
|
Date of instrument Creating the charge |
17.05.2012 |
|
Amount secured by the charge |
Rs. 13.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest
For OD: Presently at I-Base + 3.5% p.a. + applicable interest tax or
other statutory levy, if any. As on date the I-Base is 10% and spread is 3.5% For BG: Commission 2.25% p.a. Terms of
Repayment Repayable on Demand. However, the Overall Credit Facility of Rs.
13.000 Millions is valid for a period of 12 months Margin N.A. Extent and
Operation of the charge Charge on the Company's Stocks of Raw Materials, Goods-in-Process,
Semi-Finished & Finished Goods, consumable stores and spares and such
other movables, including book debts, bills, whether documentary or clean,
both present and future, shall operate as Security till the closure of the
Overall Credit Limit of Rs. 13.000 Millions, together with interest, costs,
charges and other expenses which may accrue and be debited to the account
from time to time Others The Overall Credit Limit of Rs. 13 Million consists of : Overdraft: Rs. 1 Million Bank Guarantee (Performance) : Rs. 12.000 Million |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
1)
Exclusive charge in favour of the Bank, by way of
Hypothecation, of the Company's entire stocks of raw materials, semi-finished
and finished goods, consumable stores and spares and such other movables
including book-debts, bills whether documentary or clean, outstanding monies,
receivables, both present and future, in a form and manner satisfactory to
the Bank 2)
Company's immovable properties viz., (a) All that piece and parcel of land measuring an extent of 33 Cents,
comprised in Sy. No. 184/2B situated in (b) 747 Sq.ft, of Un Divided Share in all that piece and parcel of
land situated in |
FIXED ASSETS:
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government official
or a family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 58.41 |
|
|
1 |
Rs. 91.62 |
|
Euro |
1 |
Rs. 78.12 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
34 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NB |
NEW BUSINESS |
||
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.